Economic Journals

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Journal one

Name of Journal: Monkeying Around

Author: Anatole Kaletsky

Title of Article: Are the elderly ruining our economy

Publication Date: September 8, 2010

Page Number(s): Paragraph 1-3

In this journal, Kaletsky has explained the reasons why countries are being governed by politicians who have voted in by the baby boomers who concentrate on the healthcare and pensions, and they do not support the academics and programs which are geared towards the future. The health care system does not support the economy as it’s only for the elderly who do not influence the economy. The writer here has indicated some questions as to why countries all over the world run short of money. There is further indication of the continuous increase in the taxes of the developed capitalist nations. There is also concern by the Kaletsky that there is reduction of the public spending on all other sectors such as education, defense among others unlike the health and pensions where the cost is continuously increasing.

The argument which has been put forward here by Kaletsky which responds to these concerns is the long-term fiscal demands. It has been indicated that 14% of the rising expenses in most countries is related to the credit crunch, bailouts from financial institutions and the recession. The other 86% is related to the increase in the public expenses on health, pensions. There is also the long-term care which causes the fiscal pressure to an economy. There is clear indication in the author’s argument that the credit crunch and recession are not responsible for the current economic demands on the public borrowing and expenses. They are responsible only for bringing forward its equivalent economic crisis which could not be avoided even as at 2020 when most of the baby-boomers will have left employment. The main objective now is for the government to minimize their expenditures on pensions and health (Kaletsky, pr. 3).

Journal two

Name of Journal: Center for American Progress

Author: Bracken Hendricks and Tina Ramos

Title of Article: Revitalizing Our Economy and the Environment

Publication Date: May 18, 2010

Page Number(s): Paragraph 1-10

The dangerous abandoned oil explosion is still in progress in Gulf of Mexico. This has put in danger the health and the living conditions of the people and the economy at large. The economy needs to be well established again in a proper way by putting in place a strong base of efficient energy and absolute adequate renewable energy. This benefits the workers, the industries and the economy at large. There is need of having a well established low-carbon economy. This will ensure that the investments made in the economy boosts the employment which is of the best perks, increases the utilization of the advanced technology and finally the creation of well equipped industries. There is proposition by the author that the reliance on the oil on vehicles and the whole transport infrastructure should be minimized (par. 5).

This will reduce the utilization of energy and makes the transport sector to be fastest and efficient to operate. There is also establishment of creativity which reduces the cost spend in the economy, hence the deficits will long be forgotten. The renewable energy firms which are established will take care of the establishment of many other opportunities of employment in all other parts of the country - economy. The job creation in this sector is of great importance as it will ensure that the whole economy is moving up with many trends of the efficiency. This argument is viable and is to the advantage of the whole economic sector in establishing a strong foundation and appropriate policies which will ensure that there is economic strength. The increase in the demand of the renewable energy by the firms and individuals is of great importance in rebuilding the economy.

This is not the only economic stimuli that can be used in the country. There should be adequate concentration on other sectors and the establishment of various diverse economic stimuli that will reduce the risks of encountering economic turmoil.

Journal three

Name of Journal: Uruknet

Author: Robert Pollin and Heidi Garrett-Peltier

Title of Article: The Iraq War Is Killing Our Economy

Publication Date: March 18, 2008

Page Number(s): Paragraph 1-5

In this journal, the author has discussed the effects of the Iraq war to the US economy. The US is under recession and the duration of the recession is depended on the government stimuli. The war has been an economic disaster to the US despite the fact that it of great destructions to the Iraq nation. By the year 2007, the government had utilized a total of $522 billion with a lot of huge allocations which were made then for the year 2008. This has weakened the economy of the US as the money generated is being used for the wrong tasks which do not influence the economy at large. The government should have used the amount in providing even the devastating Medicare which will enable the people to be strong to work and increase the productivity of the country. This has also destroyed the job sector as most people have been unemployed. This is because in any $ one billion which is utilized, on the grouping of education, healthcare and other investments can establish employment of between 50 and 100% additional jobs.

This therefore implies that there are up to one million jobs which were lost as a result of the Iraq war. This is of great downturn to the economy as a whole since there is misappropriation of the funds of the state. This is not right to the economy which depends on the money from the taxpayers. The militarism is not appropriate if a state has to proper. The journal has portrayed adequate information which relates to the effects of the war to the economy. This is true and the state should at least take appropriate measures which entails the use of the appropriate economic stimuli not misdirecting the taxpayer’s money (par. 3).

Journal four

Name of Journal: The stirred pot

Author:

Title of Article: Destroying our economy is not a crime

Publication Date: August 21, 2010

Page Number(s): Paragraph 1-10

Economy of any country is destroyed majorly by engaging in activities such as corruption. To a stunning surprise, majority of the top leaders engage in fraudulent activities thus portraying a bad image to their subordinates. The juniors will have an urge to try such since they borrow a leave from their seniors. It’s quite hectic in rectifying the deeds of an individual in a higher position since he/she is not alone taking part in such evil deeds that are setbacks to economic growth of any nation. They have in-fact strike a deal that if one is mentioned by his/her counterpart about the fraudulent activity, he/she is left with no option but to mention the rest. This has therefore restricted the concerned from phasing out such crimes.

Criminals are usually interested in profits that are easily earned, not putting into considerations the negative effects likely to be experience in the long run by the entire population. Corruption has got no boundary and has widespread effect to the nation. Economic developments such as infrastructure, agriculture among others are seriously affected. In the case of third world countries a crisis is certain to occur that could be hard to remedy after its occurrence. Politicians take part in such crimes by bribing people to vote for them. This therefore propels people to elect leaders not who are competent enough to serve them but on the basis of their pockets (par. 4).

The society has taken this bribing issue as normal and part and parcel of normal living. To my opinion, destruction of the economy is a crime and should be punishable by the law. Leaders found engaging in such deeds should be disciplined since they portray a negative image to the public. In addition, people should be educated so as to enable them to realize that they are the ones at the losing end, at the expense of the greedy few.

Journal five

Name of Journal: The CBS Interactive Business

Author: Jeremy Dann

Title of Article: How the Recession Will Shape Our Economy — and Our Society

Publication Date: May 5, 2010

Page Number(s): Paragraph 11-13

To enable a society to move forward in the direction that enhances economic growth and development, investments in diverse fields is mandatory. Such fields include infrastructure, education and modern technology. Infrastructural facilities play a major role since road, air or water transport links different markets. For instance, raw materials need to be transported from the place of production to the processing plants. Upon completion, finished goods are then channeled to various markets that can be conveniently accessed by consumers. Some goods are perishable and therefore call for fast transportation to the markets. This therefore means good infrastructural facilities should be put in place so as to avoid unnecessary losses that might affect the economy (par. 12).

Education is also another investment that boosts the economy of a country in the long run. It is from educational institutes that students acquire skills in various fields such as engineering, medicine, economists among others. When good education is provided, knowledge is acquired, which when put in practice enables country’s economic prosperity. Adaptation of new technology also plays a role in improving the economy of a country. For instance, using modern computers in carrying out day to day activities eases the work and also reduces the time that could have been consumed if the activity was undertaken manually. In addition, marketing of products online allows the rest of the world to know the kind of products produced in a country, hence the net income increases to a greater extent.

In my opinion, I agree with the argument on investment since countries with leading economic growth percentage have adopted this and are ranked at the top in world economic analysis. United States has not only a good and well maintained road networks but also convenient air and water transport. They are also far ahead in levels of technology. They can market or buy products online; hence this factor has further enhanced their economic growth. US also have an effective system of education. The public primary systems and universities are well spread to ensure that majority of its population gains access to quality knowledge that will allow them earn a decent living.

Reaction

In this articles, various variables and economic stimuli have been highlighted and on how they affect the economy. The details are mere truth on how the entire economy is being affected or influenced. The main influence is that of the employment which affects the entire economy and positive policies need to be implemented so as to generate adequate resource to back up the economy and avoid the crime cases. The other factors such as the renewable energy are one of the main aspects which have been discussed which should be utilized and maximized in the improvement of the economy. People as indicated in the articles need to concentrate on the investment as the main economic stimuli.